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May 14, 2014

Ukraine crisis spurs 93 pct surge in Q1 emerging market CDS trade

NEW YORK, May 14 (Reuters) – Emerging market credit default
swap trading volumes surged 93 percent in the first quarter as
investors scrambled to protect fixed-income portfolios because
of the crisis unfolding between Ukraine and Russia.

Data released on Wednesday from EMTA, the emerging market
debt trading and investment industry trade association, showed
$409 billion in volume during the first quarter versus $212
billion logged in the same period a year ago.

May 14, 2014

Sterling slumps on dovish inflation report; euro holds gains vs dollar

NEW YORK, May 14 (Reuters) – The British pound fell from a
16-month high versus the euro and dropped to a one-month low
against the dollar on Wednesday after the Bank of England
surprised investors by saying it has no plans for near-term
monetary tightening.

“(The pound) had been the cat’s meow up until this morning’s
employment numbers and BOE inflation report. The market was
clearly positioned for a more aggressive MPC (Monetary Policy
Committee) and they didn’t get that,” said Lane Newman, director
of foreign exchange for ING Capital Markets.

May 14, 2014
May 13, 2014

Euro falls on weak German data, ECB easing speculation

NEW YORK, May 13 (Reuters) – The euro slumped to a one-month
low against the dollar on Tuesday with selling pressure building
in fits and starts over the course of the session, spurred
initially by a sharp decline in German investor morale.

The monthly ZEW survey of German economic sentiment fell
short of expectations and even undershot the lowest estimate in
a Reuters poll.

May 13, 2014

Euro losses cut after U.S. April retail sales disappoint

NEW YORK (Reuters) – Disappointing U.S. retail sales data for April pulled the dollar off a one-month high against the euro on Tuesday but it was still stronger on the euro, which was undermined by a sharp decline in investor morale in Germany, Europe’s largest economy.

A report that said Germany’s central bank would back monetary easing measures to support the euro zone economy added to early selling pressure on the euro.

May 12, 2014
May 12, 2014

Euro holds line on dollar, drops against sterling

NEW YORK (Reuters) – The euro held modest gains against the dollar and yen on Monday, unperturbed by the weekend referendum in Ukraine in which pro-Russian rebels declared victory in a self-rule vote, further escalating tensions.

Against sterling however, the euro fell to a 16-month low on growing bets the European Central Bank will ease monetary policy just as the Bank of England prepares to raise interest rates.

May 9, 2014
May 9, 2014

Draghi’s warnings deflate euro but dollar’s rise seen as limited

NEW YORK (Reuters) – The euro’s sharp decline from a 2-1/2 year high against the dollar extended into Friday, a day after European Central Bank chief Mario Draghi did his best to sap the currency’s strength by threatening more monetary stimulus.

The U.S. dollar, meanwhile, traded at a one-week high against a basket of its major trading partners’ currencies, pulling it off a 20-month low. .DXY

May 7, 2014
    • About Daniel

      "I'm a New York-based global investment correspondent with over 20 years of experience covering financial markets, business and foreign policy. My current post lets me roam across all asset classes and geography, from the developed to the emerging markets. I've reported and taught business and economic journalism from Asia, Europe, Latin America and the United States. Prior to joining Reuters I was a producer at CNN Business News in New York."
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